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Monday, July 18, 2011

Fifth columnist at New York Times

Tidbit I just found out about Gretchen Morgenson, the New York Times financial writer who just co-authored a book absurdly promoting the current Fox News talking point claiming that it was quasi-governmental Fannie Mae and Freddy Mac who were responsible for the sub-prime mortgage lending that brought the system down -- and not the private banks and mortgage companies that were responsible for the majority of those loans: she was the press agent for right-wing flat-taxer Steve Forbes in one of his losing Presidential campaigns, and spent most of her early career in the Forbes empire.

Guess she was a beneficiary of one of the NYT's "we're not liberal" affirmative action campaigns to bring in right-wingers under their august banner. Unfortunately, because she writes from a platform she obviously doesn't deserve, her silly book will be accorded respect it doesn't deserve.

This piece of information comes courtesy of Mother Jones Magazine blogger Kevin Drum. It' truly sad that that the liberal blogging world is the only way a lot of valuable information sees the light of day these days.

1 Comments:

Blogger marketingace said...

Clever title and salient point. Fannie and Freddie had less than 20% of the subprime action. Goldman et. al (private banks comsagain commercial banks via a giveway by the Fed) created the rest of the mess.

3:30 PM  

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